Financial Performance - Q3 2025 revenue was CNY 387,122,683.88, a decrease of 7.77% year-over-year, while year-to-date revenue reached CNY 1,257,337,666.69, an increase of 1.95%[4] - The net profit attributable to shareholders for Q3 2025 was a loss of CNY 77,737,823.07, down 107.06% year-over-year, with a year-to-date loss of CNY 156,124,160.74, a decrease of 25.88%[4] - Basic and diluted earnings per share for Q3 2025 were both CNY -0.1371, reflecting a decline of 106.79% compared to the same period last year[4] - Total operating revenue for the current period reached ¥1,257,337,666.69, an increase from ¥1,233,293,539.89 in the previous period, reflecting a growth of approximately 1.9%[22] - The net loss for the current period was ¥161,024,571.70, compared to a net loss of ¥125,683,476.12 in the previous period, indicating a worsening of approximately 28.1%[23] - The company reported a basic and diluted earnings per share of -0.2754, compared to -0.2188 in the previous period, indicating a decline in earnings performance[23] Assets and Liabilities - The company's total assets as of September 30, 2025, were CNY 2,389,936,703.15, a decrease of 6.82% from the end of the previous year[4] - Current assets totaled RMB 964,964,412.49, a decrease of about 8.3% from RMB 1,052,524,813.43 at the beginning of the period[19] - The company’s total liabilities decreased to RMB 964,964,412.49 from RMB 1,052,524,813.43, reflecting a decline of about 8.3%[19] - The company’s non-current assets totaled RMB 1,424,972,290.66, down from RMB 1,512,338,584.80, representing a decrease of approximately 5.8%[19] - The total liabilities decreased slightly to ¥2,088,346,289.20 from ¥2,102,248,412.58, a reduction of about 0.7%[21] Cash Flow - Cash flow from operating activities for the year-to-date period was CNY 20,629,567.68, an increase of 316.12% compared to the same period last year[9] - The cash flow from operating activities generated a net amount of ¥20,629,567.68, a significant improvement from a net outflow of ¥9,545,466.82 in the previous period[25] - Net cash flow from financing activities was CNY -6,149,535.48, a decrease of 126.21% year-over-year, primarily due to increased repayments of bank loans[9] - Cash inflow from financing activities totaled $477.66 million, up from $257.07 million year-over-year, reflecting increased borrowing and investment receipts[26] - The cash and cash equivalents at the end of the period decreased to $132.39 million from $149.99 million, showing a decline in liquidity[26] Expenses - Sales expenses increased by 232.08% year-over-year to CNY 38,576,624.63, primarily due to higher e-commerce platform service fees and advertising costs[7] - Research and development expenses decreased by 30.84% year-over-year to CNY 25,657,685.59, indicating reduced investment in R&D[7] - Research and development expenses were ¥25,657,685.59, down from ¥37,100,567.74, representing a decrease of approximately 30.8%[22] Shareholder Changes and Legal Issues - The company is undergoing significant changes in its shareholder structure, with the former controlling shareholder losing control after judicial auctions of shares totaling 36,220,000 shares[14] - The company’s subsidiary, Shenzhen Zhuoyue Intelligent Manufacturing Co., Ltd., is involved in a legal dispute with a claimed amount of RMB 136,260,061.32[14] Other Financial Metrics - The company reported a significant increase in contract liabilities, which rose by 89.86% to CNY 17,149,788.05, reflecting higher prepayments from customers[7] - The company recorded a significant credit impairment loss of ¥42,681,299.99, compared to a loss of ¥204,721.74 in the previous period, indicating a substantial increase in credit risk[22] - Net cash flow from investing activities was -$15.68 million, compared to -$10.66 million in the previous period, indicating a decline in investment cash flow[26] - The company did not undergo an audit for the third quarter financial report, which may affect investor confidence[27]

Financial Performance - The company's operating revenue for the third quarter was ¥393,770,585.06, a decrease of 15.68% compared to the same period last year[5] - The total profit for the quarter was -¥26,956,176.81, with a year-to-date profit of ¥227,013,200.18, reflecting a decrease of 17.07% year-on-year[5] - The net profit attributable to shareholders was -¥19,619,562.42 for the quarter, with a year-to-date net profit of ¥174,897,385.84, down 16.89% compared to the previous year[5] - The basic earnings per share for the quarter was -¥0.10, while the year-to-date earnings per share was ¥0.91, a decrease of 16.51%[6] - Total operating revenue for the first three quarters of 2025 was CNY 1,985,451,094.26, a decrease of 3.06% compared to CNY 2,048,204,998.92 in the same period of 2024[20] - Net profit for the first three quarters of 2025 was CNY 175,293,847.87, a decline of 16.3% from CNY 209,485,750.35 in 2024[21] - Earnings per share for the first three quarters of 2025 were CNY 0.91, compared to CNY 1.09 in the same period of 2024[22] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥255,703,241.91, down 51.92% compared to the previous year[5] - The company reported a significant decline in cash flow due to reduced sales and collection cycles[10] - Cash inflow from operating activities for the first three quarters of 2025 was CNY 2,051,756,210.43, down from CNY 2,271,376,854.63 in 2024[24] - The net cash flow from operating activities was $255.7 million, a decrease of 52% compared to $531.8 million in the previous period[25] - The company reported a total cash outflow of $1,796.1 million from operating activities, slightly up from $1,739.6 million in the previous period[25] Assets and Liabilities - Total assets at the end of the quarter were ¥2,401,806,176.62, an increase of 6.34% from the end of the previous year[6] - Total current assets as of September 30, 2025, amount to ¥1,012,599,481.25, an increase from ¥885,830,017.99 in the previous year[16] - Total assets as of September 30, 2025, are ¥2,401,806,176.62, up from ¥2,258,652,695.20[16] - Total liabilities as of the end of the reporting period were CNY 635,317,113.53, an increase from CNY 538,795,873.80 in the previous year[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 15,521[12] - The largest shareholder, Wufangzhai Group Co., Ltd., holds 32.33% of shares, totaling 63,726,734 shares[12] - The company repurchased 5,590,384 shares, representing 2.84% of total share capital[13] - The company has no known related party transactions among the top 10 shareholders[14] Expenses and Financial Activities - Total operating costs for the first three quarters of 2025 were CNY 1,764,019,455.81, down 1.41% from CNY 1,789,319,169.67 in 2024[20] - Research and development expenses for the first three quarters of 2025 were CNY 17,931,746.57, a decrease from CNY 20,704,246.25 in 2024[20] - The company reported a financial expense of CNY 2,257,824.24 for the first three quarters of 2025, compared to a financial income of CNY 239,080.17 in 2024[21] - The company received tax refunds amounting to CNY 29,163,053.70 during the first three quarters of 2025, compared to CNY 27,505,469.41 in 2024[24] Cash Management - Cash and cash equivalents decreased to ¥314,702,804.45 from ¥519,915,036.15 year-over-year[15] - Short-term borrowings increased to ¥1,000,000.00 from ¥500,000.00[16] - The ending balance of cash and cash equivalents was $292.5 million, a decrease from $741.9 million at the end of the previous period[27] - The company received $751.2 million in cash related to investment activities, a significant increase from $175.7 million in the prior period[25] - The company paid $970 million in cash related to other investment activities, compared to $226.6 million in the previous period[25] Accounting Standards - The company did not apply the new accounting standards starting from 2025[28]

Revenue and Profitability - Revenue for Q3 2025 reached ¥7,591,659,798.65, an increase of 43.22% compared to the same period last year[5] - Net profit attributable to shareholders decreased by 9.64% to ¥107,816,909.72 in Q3 2025[5] - The basic earnings per share for Q3 2025 was ¥0.1370, down 19.88% compared to the previous year[5] - Net profit for the current period was ¥251,863,052.50, a decrease of 5.6% compared to ¥266,848,476.98 in the previous period[23] - Basic and diluted earnings per share decreased to ¥0.3203 from ¥0.3823, reflecting a decline of 16.2%[23] Cash Flow and Financial Activities - The company reported a net cash flow from operating activities of ¥39,883,740.00, a significant increase of 105.49% year-to-date[5] - Net cash flow from operating activities improved significantly to ¥39,883,740.75 from a negative ¥726,224,588.71, marking a 105.49% increase due to higher sales collections[10] - The net cash flow from investing activities was negative at -¥2,254,674,598.40, a 41.94% increase in outflows compared to -¥1,588,473,467.45 in the previous period, attributed to increased investment expenditures[10] - The company received cash from financing activities amounting to ¥718,125,804.32, a significant increase from ¥87,253,000.00 in the previous period, indicating strong investor confidence[24] - Cash inflow from financing activities totaled $3,346,799,479.27, a decrease of 14.1% compared to $3,896,498,885.84 in the previous period[25] - Cash outflow from financing activities amounted to $1,515,876,227.95, down from $2,068,957,987.91, reflecting a reduction of 26.7%[25] - Net cash flow from financing activities was $1,830,923,251.32, slightly up from $1,827,540,897.93, indicating a stable performance[25] - The net increase in cash and cash equivalents was -$379,899,041.32, compared to -$487,065,889.46 in the previous period, showing an improvement[25] - The ending balance of cash and cash equivalents was $6,391,544,295.80, up from $4,208,144,281.30, representing a significant increase of 51.9%[25] Assets and Liabilities - Total assets as of September 30, 2025, amounted to ¥48,896,927,687.92, reflecting a growth of 26.45% from the beginning of the year[8] - Total liabilities rose to ¥42,141,866,646.95 from ¥32,863,833,606.67, reflecting an increase of approximately 28.3%[19] - The company's equity attributable to shareholders increased to ¥6,605,287,037.84 from ¥5,677,233,805.78, showing a growth of about 16.3%[20] - Long-term borrowings increased to ¥3,206,743,598.92 from ¥1,876,616,950.09, representing a rise of approximately 70.7%[19] Inventory and Receivables - Accounts receivable financing increased by 138.81% to ¥942,921,065.33, primarily due to an increase in bank acceptance bills received from customers[8] - Inventory rose by 62.54% to ¥9,747,516,874.73, attributed to increased raw material purchases[8] - Accounts receivable increased to ¥10,955,559,751.91 from ¥8,737,952,713.86, representing a growth of about 25.5%[18] - Inventory rose significantly to ¥9,747,516,874.73 from ¥5,997,026,937.70, marking an increase of approximately 62.0%[18] Shareholder Information - The total number of common shareholders at the end of the reporting period was 33,414, with no preferred shareholders having restored voting rights[12] - Zhejiang Electromechanical Group Co., Ltd. holds 46.51% of the shares, amounting to 365,958,150 shares, making it the largest shareholder[12] - The company has a total of 280,800,000 shares that are subject to a lock-up period of 18 months following a specific stock issuance[13] - The company has a total of 85,158,150 shares to be released from lock-up on March 6, 2028, due to a private placement[16] Other Financial Metrics - The company recorded a total of ¥13,489,030.32 in non-recurring gains and losses for the current reporting period[6] - Operating revenue for the current period reached ¥18,485,995,275.25, an increase of 32.72% compared to the previous period's ¥13,928,638,308.10, primarily due to sales growth[10] - Operating costs increased by 34.37% to ¥16,806,633,984.99 from ¥12,507,310,933.53, driven by the growth in sales volume[10] - Research and development expenses increased to ¥483,494,375.65, up 24.6% from ¥387,994,650.16, indicating a focus on innovation[22] - Total investment cash outflow was ¥2,311,135,885.38, down 48.0% from ¥4,452,644,439.60 in the prior period, reflecting a strategic reduction in capital expenditures[24] - The company reported a substantial increase in asset disposal gains, rising 1947.23% to ¥176,662.02 from ¥8,629.34[10] - Income tax expenses surged by 121.75% to ¥42,441,900.81 from ¥19,139,856.48, primarily due to an increase in deferred tax expenses[10] - Other comprehensive income after tax was reported at -¥44,932.59, compared to -¥4,385.59 in the previous period, indicating a decline in this area[23] Audit and Reporting - The company did not audit its third-quarter financial report, which may affect the reliability of the reported figures[26]

山东山大鸥玛软件股份有限公司 2025 年第三季度报告 证券代码：301185 证券简称：鸥玛软件 公告编号：2025-044 山东山大鸥玛软件股份有限公司 2025 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报 告中财务信息的真实、准确、完整。 3.第三季度财务会计报告是否经过审计 □是 否 1 山东山大鸥玛软件股份有限公司 2025 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | □是 否 | | --- | | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 34, ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥154,189,115.34, representing a 3.91% increase year-over-year, while the year-to-date revenue decreased by 11.15% to ¥481,026,720.01[5] - Net profit attributable to shareholders for the quarter was ¥21,983,148.16, a significant increase of 144.69% compared to the same period last year, and a year-to-date increase of 504.47% to ¥15,809,039.16[5] - Basic and diluted earnings per share for the quarter were both ¥0.0985, reflecting a 144.67% increase year-over-year and a 505.14% increase year-to-date[5] - Total operating revenue for the current period was ¥481,026,720.01, a decrease of 11.14% from ¥541,408,797.28 in the previous period[22] - Operating profit for the current period was ¥13,170,857.70, compared to a loss of ¥5,448,968.05 in the previous period, indicating a turnaround in profitability[23] - Net profit for the current period reached ¥15,808,983.32, a substantial improvement from a net loss of ¥4,073,878.79 in the previous period[23] - Basic and diluted earnings per share for the current period were both ¥0.0709, compared to a loss of ¥0.0175 per share in the previous period[23] - The company reported a total comprehensive income of ¥15,808,983.32 for the current period, compared to a loss of ¥4,073,878.79 in the previous period, reflecting a strong recovery[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,847,178,857.29, down 6.37% from the previous year-end[5] - Total assets decreased to ¥1,847,178,857.29 from ¥1,972,901,812.06, a decline of 6.35%[20] - The total liabilities of the company are not explicitly stated but can be inferred to have increased due to higher financing activities[12] - Total liabilities decreased to ¥953,488,776.13 from ¥1,076,195,498.38, a reduction of 11.43%[20] - The company’s equity attributable to shareholders remained stable at ¥893,690,081.16, showing no significant change from the previous year-end[5] - Total equity attributable to shareholders increased slightly to ¥893,690,081.16 from ¥893,668,242.00, showing stability in shareholder equity[20] Cash Flow - Cash flow from operating activities showed a negative net amount of ¥141,917,240.36 year-to-date, a decrease of 385.60%[5] - Operating cash flow decreased by 25.78% to ¥391 million compared to the same period last year, primarily due to a decrease in project collections[12] - The company reported a net cash flow from operating activities of -¥141 million, a significant decline of 385.60% year-on-year[12] - Operating cash flow for the current period was -141,917,240.36 CNY, compared to -29,225,421.55 CNY in the previous period, indicating a significant decline[25] - Total cash inflow from investment activities was 329,362,354.72 CNY, up from 171,688,428.06 CNY in the previous period[25] - Cash outflow from investment activities increased to 563,361,041.34 CNY from 466,821,913.30 CNY, resulting in a net cash flow of -233,998,686.62 CNY for investment activities[25] - Cash inflow from financing activities was 11,950,000.00 CNY, while cash outflow totaled 30,114,321.76 CNY, leading to a net cash flow of -18,164,321.76 CNY[26] - The net increase in cash and cash equivalents was -394,080,248.74 CNY, compared to -333,061,437.15 CNY in the previous period[26] - The ending balance of cash and cash equivalents was 166,275,609.51 CNY, up from 129,158,302.59 CNY in the previous period[26] - The company reported a decrease in cash received from sales of goods and services to 376,911,429.12 CNY from 497,040,870.23 CNY[25] - Cash received from other operating activities decreased to 14,090,415.37 CNY from 29,747,281.29 CNY[25] Investments - The company’s long-term equity investments increased slightly from ¥33.53 million to ¥34.02 million[18] - The company is focusing on expanding its investment in structured deposit products, indicating a strategic shift in investment strategy[12] - Investment income surged by 5712.38% to ¥1,114,476.06, driven by increased profits from joint ventures and changes in investment product accounting[11] Costs and Expenses - The company reported a decrease in operating costs by 17.91% to ¥348,745,405.70, attributed to lower labor costs and reduced procurement expenses[10] - Total operating costs for the current period were ¥463,341,279.17, down from ¥540,927,103.48, reflecting a significant reduction of 14.36%[22] - Research and development expenses for the current period were ¥32,035,382.54, an increase of 4.32% from ¥29,747,518.03 in the previous period, indicating continued investment in innovation[22] - The company’s financial expenses decreased by 57.39% to -¥610,100.46, as funds were primarily used for investments[10] Shareholder Information - The number of common shareholders at the end of the reporting period was 22,053, with the largest shareholder holding 37.50% of the shares[14] Other Information - The company has not yet audited its third-quarter financial report[27] - The company will implement new accounting standards starting in 2025[28]

Financial Performance - The company's operating revenue for the third quarter reached ¥466,362,893.08, representing a year-on-year increase of 46.61%[4] - The net loss attributable to shareholders was ¥54,229,232.35, a significant decline of 384.36% compared to the same period last year[4] - Revenue for the first three quarters reached ¥964.78 million, an increase of 23.13% year-over-year, primarily due to an expanded consolidation scope and growth in application services[9] - The basic earnings per share were reported at -¥0.1096, a decline of 384.06% year-on-year[4] - The total comprehensive income for the current period was a loss of ¥49,381,395.19, compared to a profit of ¥33,501,306.00 in the previous period[24] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥3,810,442,588.02, reflecting a 32.35% increase from the end of the previous year[4] - Total current assets increased to RMB 2,061,989,315.97 from RMB 1,572,506,444.17, representing a growth of approximately 31.1%[19] - Current liabilities increased to RMB 1,663,347,099.76 from RMB 945,229,095.91, reflecting a rise of about 76%[20] - The company's total liabilities and equity increased to ¥3,810,442,588.02, reflecting a significant growth in financial position[21] Cash Flow - Cash flow from operating activities showed a net outflow of ¥156,427,763.69, contrasting with a net inflow of ¥26,531,555.35 in the previous period[25] - Cash flow from investing activities resulted in a net outflow of ¥412,317,403.01, compared to a net outflow of ¥74,941,492.09 in the previous period[26] - Cash flow from financing activities generated a net inflow of ¥443,284,833.59, up from ¥54,273,076.06 in the previous period[26] Expenses - Operating costs increased by 23.97% year-over-year to ¥669.77 million, driven by the rise in revenue[9] - Management expenses surged by 159.66% to ¥168.16 million, mainly due to increased share-based payment and personnel costs[9] Accounts Receivable and Inventory - Accounts receivable increased by 61.21% to ¥1,011,108,094.54, primarily due to an expanded consolidation scope and increased revenue from subsidiaries[7] - Inventory rose by 49.55% to ¥613,722,384.97, attributed to increased stock for the smart equipment business[7] Shareholder Information - The total number of common shareholders at the end of the reporting period was 38,920[13] - The top shareholder, Hou Ruohong, holds 8.18% of shares, with a total of 44,490,626 shares, of which 14,000,000 are pledged[13] Acquisitions and Investments - The company acquired 56.0299% of Shenzhen Yilian Infinite Technology Co., which is now included in the consolidated financial statements[17] - The company transferred 20% equity of Shenzhen Collaborative Innovation High-Tech Development Co. for RMB 24 million[17] Government Subsidies - The company received government subsidies amounting to ¥4,405,071.67 during the quarter, contributing to its financial performance[5] Accounting Standards - The new accounting standards will be implemented starting in 2025[27] - The company is preparing for the first-time execution of new accounting standards affecting financial statement items[27] Miscellaneous - The third quarter financial report has not been audited[28] - The board of directors meeting was held on October 30, 2025[28]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥4,870,189,949.53, an increase of 10.55% compared to the same period last year[4] - Net profit attributable to shareholders was ¥161,898,941.49, a slight increase of 0.63% year-on-year, while net profit after deducting non-recurring gains and losses was ¥154,569,767.70, up by 0.75%[4] - The net profit for the current period is CNY 524,332,963.36, a decrease of 18% compared to CNY 639,456,446.23 in the previous period[21] - Operating profit for the current period is CNY 596,955,269.44, down from CNY 669,949,436.28, reflecting a decline of approximately 10.9%[21] - The total comprehensive income attributable to the parent company is CNY 436,609,422.32, down from CNY 590,419,249.95, indicating a decline of approximately 26%[21] - Basic and diluted earnings per share are both CNY 0.34, down from CNY 0.47 in the previous period[21] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥22,570,424,148.14, reflecting an increase of 11.91% from the end of the previous year[4] - The company's total assets amounted to ¥22,570,424,148.14, reflecting a growth of 12% from ¥20,168,411,952.21[18] - Total liabilities reached ¥13,835,014,107.74, up from ¥11,843,474,796.58, indicating a growth of 16.7%[18] - The company experienced a significant increase in short-term borrowings, which rose by 62.95% to ¥198,948,580.00, primarily due to expanded sales scale[8] - Short-term borrowings surged to ¥5,149,844,387.75, a significant increase of 63% compared to ¥3,160,358,589.02[17] - The company’s total liabilities increased, with long-term borrowings rising by 42.44% to ¥49,689,600.00, attributed to loans for infrastructure projects[8] Cash Flow - The company reported a decrease in net cash flow from operating activities of 40.97%, totaling ¥444,461,683.34 year-to-date[4] - Cash flow from operating activities generated a net amount of CNY 444,461,683.34, a decrease of 41% from CNY 752,889,468.58 in the previous period[22] - Total cash inflow from operating activities is CNY 13,357,386,435.71, compared to CNY 11,761,010,763.33, representing an increase of 13.6%[22] - Cash flow from investing activities resulted in a net outflow of CNY 1,701,642,067.59, worsening from a net outflow of CNY 1,210,077,304.82 in the previous period[22] - Cash flow from financing activities generated a net inflow of CNY 1,211,187,265.15, an increase from CNY 389,911,742.17 in the previous period[23] Shareholder Information - Total number of common shareholders at the end of the reporting period is 172,381[10] - The largest shareholder, Ningbo Changying Yuefu Investment Co., Ltd., holds 32.64% of shares, totaling 444,188,111 shares[10] - The top 10 shareholders collectively hold significant stakes, with the second-largest being Hong Kong Central Clearing Limited at 2.00% (27,212,212 shares)[10] - The company has a total of 4,015,242 shares under lock-up due to executive restrictions, with 3,921,972 shares being high-level locked shares[11] - The company has no changes in the top 10 shareholders due to securities lending activities[11] Stock Options and Incentives - The stock option incentive plan has been adjusted, reducing the total number of granted stock options from 14,251,698 to 12,502,208[12] - In the third exercise period of the stock option incentive plan, 2,376 participants can exercise a total of 5,299,503 stock options, achieving an 80% exercise rate[13] - During the reporting period, 652 incentive participants exercised a total of 1,400,739 shares[14] Operational Metrics - Total operating revenue for the current period reached ¥13,510,201,889.52, an increase of 11.7% compared to ¥12,097,401,856.69 in the previous period[20] - Total operating costs amounted to ¥12,924,789,500.65, up 11.3% from ¥11,615,682,843.05 in the prior period[20] - Research and development expenses increased to ¥1,014,934,158.29, reflecting a rise of 15% from ¥882,443,726.46 year-over-year[20] - The company's cash and cash equivalents decreased to ¥1,944,091,960.69 from ¥2,058,964,096.62, a decline of 5.5%[16] - Accounts receivable rose to ¥3,812,080,287.86, up 21.5% from ¥3,137,047,952.52 at the beginning of the period[16] - Inventory increased to ¥3,993,795,254.56, representing a growth of 8% from ¥3,698,745,805.97[16] Other Information - The company has not disclosed any new product developments or market expansion strategies in the provided content[10] - There are no significant mergers or acquisitions reported in the current financial data[10] - The company’s investment income decreased by 118.59% year-on-year, amounting to a loss of ¥199,463,600.00, primarily due to the disposal of subsidiary equity in the previous year[8] - The company’s goodwill increased by 52.33% to ¥77,038,800.00, mainly due to mergers with non-similar control enterprises during the reporting period[8] - The company reported a tax expense of CNY 72,891,594.12, significantly higher than CNY 28,493,962.06 in the previous period, reflecting an increase of 156%[21]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥86,923,898.07, an increase of 8.08% year-over-year, while the total revenue for the year-to-date period was ¥254,041,340.00, up 10.45% compared to the same period last year[5]. - Net profit attributable to shareholders for Q3 2025 was ¥18,752,542.99, representing a significant increase of 42.28% year-over-year, with a year-to-date net profit of ¥54,153,608.70, up 19.99%[5]. - The basic earnings per share for Q3 2025 was ¥0.1362, reflecting a growth of 43.37% compared to the same quarter last year, while the diluted earnings per share also stood at ¥0.1362[5]. - Total operating revenue for the current period reached ¥254,041,340, an increase from ¥229,996,052 in the previous period, representing an increase of approximately 10.5%[24]. - The net profit for the current period is CNY 54,153,608.70, representing an increase of 20.5% compared to CNY 45,130,188.94 in the previous period[25]. - Operating profit for the current period is CNY 61,410,177.42, up from CNY 52,301,358.13, indicating a growth of 17.5%[25]. - The total comprehensive income for the current period is CNY 54,153,608.70, compared to CNY 45,130,188.94 in the previous period, reflecting a growth of 20.5%[25]. - Basic and diluted earnings per share for the current period are both CNY 0.3935, up from CNY 0.3253 in the previous period, representing an increase of 20.9%[25]. Assets and Liabilities - The company's total assets as of September 30, 2025, amounted to ¥1,466,074,667.69, marking a 3.20% increase from the end of the previous year[5]. - The total assets of the company as of the end of the reporting period were ¥1,466,074,667.69, compared to ¥1,420,557,158.13 at the beginning of the period, indicating a growth of about 3.2%[22]. - The total liabilities of the company were ¥189,003,547.07, up from ¥173,059,675.01, representing an increase of about 9.2%[22]. - The total equity attributable to the parent company increased to ¥1,277,071,120.62 from ¥1,247,497,483.12, indicating a growth of approximately 2.4%[23]. Cash Flow - Cash flow from operating activities for the year-to-date period reached ¥71,892,458.45, showing a remarkable increase of 647.74%[5]. - Cash flow from operating activities generated a net amount of CNY 71,892,458.45, a significant recovery from a net outflow of CNY 13,125,261.31 in the previous period[26]. - Total cash inflow from investment activities is CNY 318,809,089.74, compared to CNY 171,431,498.69 in the previous period, marking an increase of 86%[26]. - Cash flow from financing activities resulted in a net outflow of CNY 27,927,743.64, an improvement from a net outflow of CNY 58,049,873.15 in the previous period[27]. - The company's cash and cash equivalents decreased to ¥475,888,891.56 from ¥548,073,960.83, a decline of approximately 13.2%[21]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 8,652[13]. - The largest shareholder, Sun Weiguo, holds 36.48% of shares, totaling 50,814,800 shares[13]. - The top 10 shareholders collectively hold a significant portion of shares, with the largest being Sun Weiguo, followed by Hui Jinpeng at 6.46%[13]. - The total number of restricted shares at the end of the period is 55,459,100, with 2,265,200 shares added during the period[16]. - The total number of shares held by the top 10 unrestricted shareholders is 36,000,000[14]. - The company has a significant number of shares pledged or frozen, particularly for shareholder Wu Zhengxin, who has 4,199,800 shares frozen[13]. Operational Expenses - Total operating costs amounted to ¥191,281,851.85, up from ¥173,520,134.42, reflecting a growth of about 10.2%[24]. - Research and development expenses increased to ¥17,784,907.24 from ¥14,174,866.15, marking a rise of approximately 25.5%[24]. Corporate Governance - The company has revised its articles of association and governance structure, eliminating the supervisory board and transferring its powers to the audit committee[17]. - The company approved a stock incentive plan on June 5, 2025, for granting restricted stock to eligible participants[19]. - The company held a temporary shareholders' meeting on September 15, 2025, to elect a new employee representative director[18]. Tax and Refunds - The company experienced a 256.30% increase in tax refunds received, totaling ¥18,140,901.38, attributed to VAT refunds received by Maituo Technology[10]. - The company received CNY 18,140,901.38 in tax refunds, significantly higher than CNY 5,091,521.34 in the previous period[26]. Investment Income - Investment income for the first nine months of 2025 decreased by 41.56% to ¥836,603.60, mainly due to reduced returns from matured financial products[9]. - The company’s cash paid for investment increased by 47.13% to ¥427,792,057.67, mainly due to increased purchases of short-term financial products[10].

Financial Performance - The company's revenue for Q3 2025 was ¥479,496,350.93, representing a year-on-year increase of 1.22%[4] - The net profit attributable to shareholders was -¥24,599,585.64, a decline of 65.54% compared to the same period last year[4] - The company's basic earnings per share for Q3 2025 was -¥0.0307, a decrease of 65.62% year-on-year[4] - Total operating revenue for the current period reached ¥1,280,026,430.94, a slight increase from ¥1,274,003,789.32 in the previous period, representing a growth of approximately 0.2%[23] - The net loss for the current period was ¥196,097,394.63, an improvement compared to a net loss of ¥326,235,410.91 in the previous period, reflecting a decrease in losses of approximately 40%[25] - The company reported a total comprehensive loss of ¥197,220,952.50, compared to a loss of ¥327,384,285.14 in the previous period, reflecting a reduction in comprehensive losses of approximately 39.8%[26] - Basic and diluted earnings per share were both reported at -0.2453, an improvement from -0.4079 in the previous period[26] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥69,674,734.35, down 22.23% from the previous year[13] - Operating cash flow for the current period is 69,674,734.35, down 22.2% from 89,594,016.12 in the previous period[28] - Cash inflow from operating activities totaled 1,628,607,935.19, a decrease of 4.1% compared to 1,697,552,941.12 last period[28] - Cash outflow from operating activities was 1,558,933,200.84, down 3.0% from 1,607,958,925.00 in the previous period[28] - Net cash flow from investment activities was -106,913,637.43, an improvement from -283,558,912.69 in the previous period[28] - Cash inflow from financing activities was 287,198,186.17, slightly up from 285,720,317.48 last period[29] - Cash outflow from financing activities increased to 462,813,867.50, compared to 257,516,546.09 in the previous period[29] - The net cash flow from financing activities was -175,615,681.33, a decline from 28,203,771.39 in the previous period[29] - The ending cash and cash equivalents balance is 304,724,551.74, down from 526,834,606.84 in the previous period[29] - Cash inflow from investment activities decreased significantly to 523,886,288.74 from 1,615,280,888.97 last period[28] - Cash received from other investment activities dropped to 515,000,000.00 from 1,607,920,000.00 in the previous period[28] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,381,380,673.74, a decrease of 5.03% from the end of the previous year[4] - The company's total assets decreased to ¥4,381,380,673.74 from ¥4,613,581,963.76, a decline of about 5%[21] - Total liabilities decreased to ¥1,926,832,936.25 from ¥2,067,016,687.27, representing a reduction of approximately 6.8%[21] - The company's equity attributable to shareholders decreased to ¥2,455,193,394.11 from ¥2,547,210,725.69, a decline of about 3.6%[21] - Total current assets decreased from 2,436,003,730.84 yuan to 2,240,539,545.41 yuan, a decline of approximately 8.06%[19] - Cash and cash equivalents decreased from 521,458,546.21 yuan to 313,009,251.95 yuan, a decline of approximately 39.93%[18] - Accounts receivable decreased from 1,030,247,590.74 yuan to 965,455,130.87 yuan, a decline of approximately 6.30%[18] - Inventory increased from 77,605,414.54 yuan to 105,161,731.14 yuan, an increase of approximately 35.47%[19] - Long-term equity investments decreased from 96,502,663.55 yuan to 87,636,138.19 yuan, a decline of approximately 9.00%[19] - The company has a goodwill amounting to 333,387,176.29 yuan, unchanged from the previous period[19] - The company has ongoing research and development efforts, with development expenditures increasing from 9,960,975.33 yuan to 105,257,200.29 yuan[19] Shareholder Information - Total number of common shareholders at the end of the reporting period is 39,490[15] - The largest shareholder, Shen Jiya, holds 10.04% of shares, totaling 80,250,145 shares[15] - The second-largest shareholder, China Electronics Technology (Chengdu) Investment Fund Management Co., holds 7.00% of shares, totaling 55,984,059 shares[15] Expenses - The company reported a significant increase in development expenditures, rising by 956.70% to ¥105,257,200.29 due to new R&D projects[9] - The company's financial expenses decreased by 68.73% to ¥5,642,691.59, attributed to increased interest income and reduced interest expenses[11] - The company experienced a 1115.98% increase in credit impairment losses, amounting to ¥48,763,319.07, due to enhanced receivables management[11] - Total operating costs decreased to ¥1,552,934,787.34 from ¥1,651,553,096.28, marking a reduction of about 6%[24] - Research and development expenses were ¥400,659,977.11, slightly down from ¥416,395,944.74, indicating a decrease of about 3.8%[24] - Deferred income decreased to ¥60,534,686.55 from ¥65,509,329.10, a decline of about 7.4%[21]

Financial Performance - The company's revenue for the third quarter reached ¥389,473,859.50, representing a year-over-year increase of 40.47%[5] - Net profit attributable to shareholders was ¥4,968,367.62, a significant increase of 604.27% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was ¥3,259,286.87, up by 552.17% year-over-year[5] - The company's operating income for the year-to-date period was ¥975,348,619.44, a 32.40% increase attributed to rapid growth in its three main business areas: new energy, smart grid, and aerospace[10] - Total operating revenue for the current period reached ¥975,348,619.44, an increase of 32.5% compared to ¥736,676,628.40 in the previous period[22] - The total profit for the period was 16,317,915.93, compared to 19,908,299.87 in the previous period, indicating a decrease of approximately 18.5%[23] - The net profit attributable to the parent company's shareholders was 20,437,763.43, slightly down from 20,897,761.62, reflecting a decrease of about 2.2%[23] Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥17,871,182.12, a drastic decline of 1,055.00% compared to the previous year[10] - Cash inflow from operating activities totaled 472,012,205.96, an increase from 455,007,774.91 in the previous period, representing a growth of approximately 3.1%[25] - The net cash flow from operating activities was -17,871,182.12, worsening from -1,547,281.96 in the previous period[25] - Cash inflow from investment activities was 384,988,525.21, significantly higher than 119,000.00 in the previous period[25] - The net cash flow from investment activities was -102,584,913.13, compared to -40,213,857.31 in the previous period, indicating a larger outflow[25] - Cash inflow from financing activities was 128,870,291.50, down from 148,734,211.84 in the previous period, a decrease of about 13.4%[26] - The net cash flow from financing activities was 4,613,948.22, lower than 8,919,585.13 in the previous period, reflecting a decline of approximately 48.3%[26] - The ending cash and cash equivalents balance was 103,834,515.71, down from 146,507,257.32 in the previous period, a decrease of about 29.1%[26] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥2,291,329,527.87, reflecting a 7.45% increase from the end of the previous year[5] - Current assets totaled ¥1,660,930,302.96, reflecting an increase of 10.3% from ¥1,505,920,555.09 at the beginning of the period[20] - Total liabilities reached ¥1,114,483,445.24, an increase of 12.2% from ¥992,806,323.92 at the beginning of the period[20] - The company's equity attributable to shareholders rose to ¥1,176,846,082.63, an increase of 3.3% from ¥1,139,586,332.60 at the beginning of the period[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 16,725[13] - The largest shareholder, Jia Tongying, holds 15.19% of shares, totaling 26,630,109 shares[13] - The second-largest shareholder, Ma Xiaofeng, holds 13.70% of shares, totaling 24,005,754 shares, with 18,004,315 shares under lock-up[13] - The total number of shares held by the top 10 shareholders accounts for a significant portion of the company's equity, with the top three shareholders alone holding over 32%[13] - The company has a total of 19,683,570 shares under lock-up due to executive restrictions, with a release schedule of 25% annually[15] Corporate Governance and Strategy - The company plans to issue convertible bonds to unspecified investors, indicating a strategy for capital raising[17] - The company has made changes to its operational scope to align with business development needs[17] - The company will no longer have a supervisory board, aiming to enhance governance structure[17] - The company has completed the registration of restricted stock for its incentive plans, with 531,050 shares listed for trading on September 12, 2025[16] Inventory and Costs - The company reported a 41.49% increase in inventory, totaling ¥373,966,825.82, driven by sales growth and expanded production capacity[10] - Total operating costs amounted to ¥970,855,059.86, up 33.6% from ¥726,518,140.88 in the prior period[22] - Research and development expenses for the current period were ¥96,982,213.30, an increase of 22.9% compared to ¥79,013,536.98 in the previous period[22] - Operating profit for the current period was ¥16,219,887.47, a decrease of 18.5% from ¥19,908,299.87 in the previous period[22]